Guggenheim Reaffirms Buy Rating for ProMIS Neurosciences (NASDAQ:PMN)

ProMIS Neurosciences (NASDAQ:PMN)‘s stock had its “buy” rating reiterated by Guggenheim in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $6.00 target price on the stock.

ProMIS Neurosciences Trading Down 5.8 %

ProMIS Neurosciences stock opened at $0.71 on Tuesday. ProMIS Neurosciences has a 1-year low of $0.62 and a 1-year high of $2.61. The firm has a market capitalization of $23.24 million, a PE ratio of -7.11 and a beta of 0.58. The firm’s 50 day simple moving average is $0.81 and its 200 day simple moving average is $0.95.

ProMIS Neurosciences (NASDAQ:PMN) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.12. Research analysts forecast that ProMIS Neurosciences will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProMIS Neurosciences stock. Allostery Investments LP bought a new stake in shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 195,111 shares of the company’s stock, valued at approximately $185,000. Allostery Investments LP owned about 0.60% of ProMIS Neurosciences at the end of the most recent reporting period. Institutional investors and hedge funds own 50.13% of the company’s stock.

About ProMIS Neurosciences

ProMIS Neurosciences, Inc discovers and develops antibody therapies and therapeutic vaccines neurodegenerative diseases and other misfolded protein diseases in Canada. The company’s proprietary discovery platform comprises ProMIS and Collective Coordinates algorithms to predict novel targets known as disease specific epitopes on the molecular surface of misfolded proteins.